Daimler AG, the world’s second- largest maker of luxury cars, plans to end its stock listing on the NYSE, citing low trading volumes.
Daimler wrote to the New York Stock Exchange today about its plan to delist the stock and the 8.5% notes due Jan. 18, 2031, issued by Daimler Finance North America LLC, the Stuttgart, Germany-based automaker said in a statement today. Daimler, whose primary listing is in Frankfurt, said U.S. trading accounted for less than 5% of total volume in the past 12 months.
“Daimler continues to place great importance on having an international shareholder base,” Chief Financial Officer Bodo Uebber said in the statement. “The trading center for our shares, however, clearly is Frankfurt – and that is also the case for our international investors.”